The EUR trades above €1.14 heading stateside, edging ever higher ahead of today’s important Eurogroup meeting. The lull in Greek headline rhetoric is pressuring some of the weaker short EUR positions. Sterling has managed to print a seven-month high £1.5910 and is threatening to take on the psychological £1.60 handle after this week’s stronger than expected U.K wage growth and retail sales numbers for May. A pause in the rate divergence argument has lifted Yen below ¥122.56. Despite SNB’s Jordan, in his post rate decision press conference where rates were held steady, reiterating that the CHF is clearly overvalued is ... (full story)